Power Panel
Early Stage
A hybrid solar thermal technology that is 4x as powerful as traditional options
Overview
Raised: $247,519
Total Commitments ($USD)
Platform
Wefunder
Start Date
06/28/2021
Close Date
01/18/2023
Min. Goal
$50,000
Max. Goal
$1,070,000
Min. Investment
$100
Security Type
Equity - Common
Series
Seed
SEC Filing Type
RegCF
Price Per Share
$100.00
Pre-Money Valuation
$7,015,000
Rolling Commitments ($USD)
Status
Funded
Reporting Date
01/30/2023
Days Remaining
Funded
% of Min. Goal
Funded
% of Max. Goal
Funded
Likelihood of Max
Funded
Avg. Daily Raise
$436
# of Investors
299
Momentum
Funded
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Year Founded
2016
Industry
Energy, Power, & Natural Resources
Tech Sector
Cleantech
Distribution Model
B2B/B2C
Margin
Medium
Capital Intensity
High
Power Panel, with a pre-money valuation of $7.02 million, is raising crowdfunding on Wefunder. The company has developed its patented PVT technology which is the future of energy. The technology is hybrid solar thermal and captures the solar energy for both generating electricity and heating water. Rob Kornahrens and Garth Schultz founded Power Panel in November 2016. The proceeds of the current crowdfunding round, with a minimum raise of $50,000 and a maximum raise of $1,070,000, will be used towards management team salaries, sales and marketing, operating overhead, and general working capital needs. The Power Panel product has over ten years of research behind it and is ready for market. The business has projected annual revenue of $20 million by 2025.
Summary Profit and Loss Statement
| Most Recent Year | Prior Year | |
|---|---|---|
|
Revenue |
$7,030 |
$184,422 |
|
COGS |
$3,703 |
$113,719 |
|
Tax |
$0 |
$0 |
| ||
| ||
|
Net Income |
$-441,936 |
$-1,173,738 |
Summary Balance Sheet
| Most Recent Year | Prior Year | |
|---|---|---|
|
Cash |
$23,494 |
$46,848 |
|
Accounts Receivable |
$0 |
$10,308 |
|
Total Assets |
$361,194 |
$386,865 |
|
Short-Term Debt |
$1,913,554 |
$7,972,839 |
|
Long-Term Debt |
$0 |
$0 |
|
Total Liabilities |
$1,913,554 |
$7,972,839 |
Financials as of: 06/28/2021
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